Please test in Demo Account first. Watch how to download trading robots for free. Interesting script? So post a link to it - let others appraise it. You liked the script? Try it in the MetaTrader 5 terminal. Currency Strength.
Currency Strength V2. Currency Strength V3. Currency Strength V4. You are missing trading opportunities:. JPY is greater than 0. The specific type of order i. The robot does not set stop loss and take profit for the market orders being opened as designed. By default, the trailing stop function is also disabled, unless the user deliberately turns the function on in the Inputs tab. All this means that the open trades can be closed only manually or with the use of a script directly applied by the user.
That is why the trader must check the trades before the trading day closes to manage the trades individually or collectively. It is not possible to run the robot in back tester to see its performance over some period of time. This is due to the fact that it takes the 28 major pairs into consideration when looking for trade entries. The only way to determine the profitability of this robot for real trading is to do demo trading.
It is best if this is done on a virtual private server so that the robot can run without interruptions. This robot uses a different way of determining currency strength when compared with other robots and indicators available online.
This is not very reliable as the current candle can change color so quickly, so does the daily trend. Therefore, it is better to use the previous candle in the currency strength computation.
It is advisable that the trader uses a small trade volume and a big capital when using this robot so that the running profit fluctuation would not severely affect the account. Setting a bigger value for the difference between values of currencies is a good idea to lower the number of trades open at any one time in the trading account. This would lead to higher probability trades, lower drawdown and reduced risk of account blowout.
To effectively protect the trading capital, the user must consider enabling the SLTP function so that the robot will actively put stop loss and take profit targets to all open orders. This will give the trading account more chances of survival for the long term.
When such function is activated, the account would do better if the user also sets the take profit distance bigger than the stop loss distance. A risk-reward ratio of at least 1. Statistically, the higher the ratio the better.
It will give the trading account better chances of making money over a significant run time. Trailing stop allows you to automatically protect the profits with your positions. It adjusts itself according to the current market rate and the amount of pips you give it to trail behind. The source code works both in MetaTrader 4 and MetaTrader 5.
Watch how to download trading robots for free. Interesting script? So post a link to it - let others appraise it. You liked the script? Try it in the MetaTrader 5 terminal.
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